Abount These Figures: Salary Range, Median and Percentiles

The median salary is 2,000 EUR per month, which means that half (50%) of the population are earning less than 2,000 EUR while the other half are earning more than 2,000 EUR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 1,500 EUR while 75% of them are earning more than 1,500 EUR. Also from the diagram, 75% of the population are earning less than 2,500 EUR while 25% are earning more than 2,500 EUR.

What is the difference between the median and the average salary? What should you be looking at?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Salaries for specific job categories

Salary Trend and Forecast in Cyprus

How are Cyprus salaries changing over time? Listed below is a chart that shows the average salary over the past few years.

2016201720182019

Average Salary 2016

=

2,042 EUR

Average Salary 2017

+3%

2,099 EUR

Average Salary 2018

+1%

2,128 EUR

Average Salary 2019

+2%

2,167 EUR

Percentage increase and decrease are relative to the previous value

Salaries in Cyprus are on the rise in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Average Hourly Wage in Cyprus | All Jobs

11 EUR per hour

Average Hourly Wage

The average hourly wage (pay per hour) in Cyprus | All Jobs is 11 EUR. This means that the average person in Cyprus earns approximatly 11 EUR for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.